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All Forum Posts by: Dami F.

Dami F. has started 6 posts and replied 35 times.

Post: Don't become passive investors

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15
Quote from @James Hamling:
Quote from @Dami F.:
Quote from @James Hamling:
Quote from @Dami F.:
Quote from @James Hamling:
Quote from @Carlos Ptriawan:


I want even more Scott. And this needs to come from regulation.
Every  *private* syndication needs to have periodic 6 months a reported financial statement to investor in *public* and their future trajactory analysis of their investment.

Currently, It has better reward/risk when we invest at public REIT, because the result is available for public and everyone can gives their analysis. It's ok for their NAV/price to go up or down because all risks and future implication has been documented properly. When we as investor being told about the risk publicly, then we know the risk.

Make it the structure more like an Interval fund, so it's still not tradable, but there's periodic financial reporting to public. Not just to investor.


Every good syndicator I know (all are pre-covid operators) do a quarterly reporting to investors, and in times of any turmoil or significant changes, it's additional 411. 

I think the problem here is your lumping ALL syndicators, regardless of operational time and quality, into 1 big generalization. 

There was a "Syndication Gold-Rush" and with that, a lot of persons with "Gold-Fever" got in vs those with solid game-plans and know-how to PROPERLY do the operations of such. 

And with that, the investors have to hold themselves accountable for whom they selected, ever wisely or foolishly, to invest there $ behind. 

Every pre-covid syndicator I know is still doing great. The "Gold-Rush Syndicators", yeah I see a LOT of trouble's there. 

Hmmn.. maybe you should actually advise your pre-Covid operator friends to stop churning out Covid syndicators from their boot camps like it’s a pack of cigarettes. Or maybe they’re actually not doing as great and they need these mentorships/boot camps as their source of income. Because I am baffled when “experienced” investors/syndicators make condescending remarks about new syndicators in one breath and advertise their 2-day bootcamps in the other. Not just this post. I see it across linkedin too. 
Btw, I know Covid syndicators who have never lost their investors money. 
And if you’re wondering, I am not a Covid syndicator and didn’t pay a dime to anyone either. I am just defending the poor “Covid syndicators” who are doing things right. 
I come in peace. 

Oh, you didn't have to state your inexperience, it was obvious. 

I have no clue what the heck your going on about with "syndicator boot camps", Nobody I know does anything even remotely close to such, nor would they, there not going to hand away there "secret sauce" and vs what they make as an active syndicator, they'd have to charge minimum $40k per student to make it remotely worth there time. 

To put in context, 1 cleared $1.25m in 18mnth's on just 1 value-add deal. 

To do a "boot-camp for syndicating" would be definitively stepping over dollars to pickup pennies. 

I got a feeling you don't actually know what a syndicator is and are mixing it up with someone's snake-oi.... sorry I mean Wholesaler boot-camp program. 


 Like I said, I come in peace. If you think there are no syndication bootcamps which is where they sell their 40k mentorships, OK. Not going to mention names either, neither do I have to prove anything. Congrats on your guru status. Now we have to think of a title for those who’ve been doing it decades before you. 

That aside- let’s think about this logically- let’s say there are no 2-day bootcamps which makes me wrong, and those Covid syndicators paid 40k to your friends’ mentorships because that’s what the “secret sauce” and their time is worth which make you right, and then they’re now the “Covid operators” which is a term people like you use to try to prove whatever it is you’re trying to prove? LAUGHABLE! 


Is there a reason your incapable of reading? Or this this just "Trolling Friday"? 

NOBODY I know sells any kind of syndicator mentorship or "boot-camp". 

I have never heard of a "syndicator boot-cap" so can't speak to such. 

I CLEARLY stated all the persons I know, never claming any kind of "GURU" status on such. 

Your just rambling on and on with wildly bizarre things, plucked from thin air it seems, speaking NOTHING to the actual conversation here. 

And a "Boot-camp for syndicators" in 2 DAYS! 2 days! Wow, you really are completely and totally oblivious as to what syndication or syndicators are?!     Stop assuming it's some other wholesaler thing, google "syndication" or "syndicator". 

And stop trolling, it's not cute, it doesn't win view's, it will win you ban's. This ain't tik-tok kiddo. 

Tiktok, kiddo, really? Never mind lol. I rest my case. 

Post: Don't become passive investors

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15
Quote from @James Hamling:
Quote from @Dami F.:
Quote from @James Hamling:
Quote from @Carlos Ptriawan:


I want even more Scott. And this needs to come from regulation.
Every  *private* syndication needs to have periodic 6 months a reported financial statement to investor in *public* and their future trajactory analysis of their investment.

Currently, It has better reward/risk when we invest at public REIT, because the result is available for public and everyone can gives their analysis. It's ok for their NAV/price to go up or down because all risks and future implication has been documented properly. When we as investor being told about the risk publicly, then we know the risk.

Make it the structure more like an Interval fund, so it's still not tradable, but there's periodic financial reporting to public. Not just to investor.


Every good syndicator I know (all are pre-covid operators) do a quarterly reporting to investors, and in times of any turmoil or significant changes, it's additional 411. 

I think the problem here is your lumping ALL syndicators, regardless of operational time and quality, into 1 big generalization. 

There was a "Syndication Gold-Rush" and with that, a lot of persons with "Gold-Fever" got in vs those with solid game-plans and know-how to PROPERLY do the operations of such. 

And with that, the investors have to hold themselves accountable for whom they selected, ever wisely or foolishly, to invest there $ behind. 

Every pre-covid syndicator I know is still doing great. The "Gold-Rush Syndicators", yeah I see a LOT of trouble's there. 

Hmmn.. maybe you should actually advise your pre-Covid operator friends to stop churning out Covid syndicators from their boot camps like it’s a pack of cigarettes. Or maybe they’re actually not doing as great and they need these mentorships/boot camps as their source of income. Because I am baffled when “experienced” investors/syndicators make condescending remarks about new syndicators in one breath and advertise their 2-day bootcamps in the other. Not just this post. I see it across linkedin too. 
Btw, I know Covid syndicators who have never lost their investors money. 
And if you’re wondering, I am not a Covid syndicator and didn’t pay a dime to anyone either. I am just defending the poor “Covid syndicators” who are doing things right. 
I come in peace. 

Oh, you didn't have to state your inexperience, it was obvious. 

I have no clue what the heck your going on about with "syndicator boot camps", Nobody I know does anything even remotely close to such, nor would they, there not going to hand away there "secret sauce" and vs what they make as an active syndicator, they'd have to charge minimum $40k per student to make it remotely worth there time. 

To put in context, 1 cleared $1.25m in 18mnth's on just 1 value-add deal. 

To do a "boot-camp for syndicating" would be definitively stepping over dollars to pickup pennies. 

I got a feeling you don't actually know what a syndicator is and are mixing it up with someone's snake-oi.... sorry I mean Wholesaler boot-camp program. 


 Like I said, I come in peace. If you think there are no syndication bootcamps which is where they sell their 40k mentorships, OK. Not going to mention names either, neither do I have to prove anything. Congrats on your guru status. Now we have to think of a title for those who’ve been doing it decades before you. 

That aside- let’s think about this logically- let’s say there are no 2-day bootcamps which makes me wrong, and those Covid syndicators paid 40k to your friends’ mentorships because that’s what the “secret sauce” and their time is worth which make you right, and then they’re now the “Covid operators” which is a term people like you use to try to prove whatever it is you’re trying to prove? LAUGHABLE! 

Post: Don't become passive investors

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15
Quote from @James Hamling:
Quote from @Carlos Ptriawan:


I want even more Scott. And this needs to come from regulation.
Every  *private* syndication needs to have periodic 6 months a reported financial statement to investor in *public* and their future trajactory analysis of their investment.

Currently, It has better reward/risk when we invest at public REIT, because the result is available for public and everyone can gives their analysis. It's ok for their NAV/price to go up or down because all risks and future implication has been documented properly. When we as investor being told about the risk publicly, then we know the risk.

Make it the structure more like an Interval fund, so it's still not tradable, but there's periodic financial reporting to public. Not just to investor.


Every good syndicator I know (all are pre-covid operators) do a quarterly reporting to investors, and in times of any turmoil or significant changes, it's additional 411. 

I think the problem here is your lumping ALL syndicators, regardless of operational time and quality, into 1 big generalization. 

There was a "Syndication Gold-Rush" and with that, a lot of persons with "Gold-Fever" got in vs those with solid game-plans and know-how to PROPERLY do the operations of such. 

And with that, the investors have to hold themselves accountable for whom they selected, ever wisely or foolishly, to invest there $ behind. 

Every pre-covid syndicator I know is still doing great. The "Gold-Rush Syndicators", yeah I see a LOT of trouble's there. 

Hmmn.. maybe you should actually advise your pre-Covid operator friends to stop churning out Covid syndicators from their boot camps like it’s a pack of cigarettes. Or maybe they’re actually not doing as great and they need these mentorships/boot camps as their source of income. Because I am baffled when “experienced” investors/syndicators make condescending remarks about new syndicators in one breath and advertise their 2-day bootcamps in the other. Not just this post. I see it across linkedin too. 
Btw, I know Covid syndicators who have never lost their investors money. 
And if you’re wondering, I am not a Covid syndicator and didn’t pay a dime to anyone either. I am just defending the poor “Covid syndicators” who are doing things right. 
I come in peace. 

I have a property in Eagle Rock Resort which I am looking to make the best use of. I'd like to discuss with someone who specializes in this area, preferably some who already invests there and/or a real estate broker. Please let's connect. Thank you!

Post: What's the best min population size to consider when buying?

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15
Quote from @Tyler Rasmussen:

We have investment properties in several small towns around Waterloo including Dysart, Independence, Sumner, Winthrop, Waverly and Hudson. I'm also the broker/owner of a PM company based out of Waterloo and we reach about 30-45 miles in every direction. We've had a lot of success in small towns. For example, in Independence (population of 6,000) we have about 80 rentals and zero vacancy right now. 

Hi Tyler-
I stumbled on your comment while researching Waterloo, IA. I have an agreement in principle for the purchase of a multifamily property in Waterloo. Do you have a minute to discuss? PM please. Thanks.

Dami

Quote from @Eric Bilderback:

I would say you are bringing up the other side of the coin.  There are very good reasons to believe now is a great time to buy compared to the future, and now could be a terrible time compared to the near future.  I'll be the first to tell you I don't know, but if I find a good deal I can buy safely that I am confident will cashflow for the duration I am a buyer.  

Good point. I'm surprised people are hung up so much on the rates. If the deal is good enough to cash flow why care so much about the rates? If you think the rates are high wouldn't this be a great time to make sure your deal is great? so, when the rates eventually come down you can refi for a double win. Again, because you bought a great deal and not just looking to acquire "doors".  Rates don't matter. Deals matter!

Post: Has anyone done Jerry Norton's Fast Track Program?

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15
Quote from @Lucianna Winger:
Quote from @Kathryn Morea:

Hi, I thought I'd chime in here.  I have not done any of Jerry's programs, but I do watch his youtube videos which you can learn a lot just from watching those.

I must say I disagree with this statement, and perhaps I just don't understand:

"...their companies "Proof of Funds" which I now know is not a valid/legal contract unless it was written and signed off by an attorney. An individual cannot write a contract without a license to practice law!!!..."

Hogwash, individuals write contracts all the time. Real estate agents as well. These are not attorneys. There is nothing wrong with writing a legally binding contract to sell or purchase a piece of real estate using a contract written at the kitchen table. Further, you can act on your own behalf or on behalf of an LLC and use that LLC's proof of funds (providing you are the owner or authorized to do so). I have personally made HUNDREDS of offers on properties over the years and only used attorneys when required for closing or for litigation. I've used LOI (Letter of intent), I've used home drafted word documents, I've used CAR (California Association of Realtor) offer forms etc. Any one of those can work to get you into escrow or "under contract" so you can then get the closing attorney/escrow/title or what have you (depending on jurisdiction) involved. That said, if this is a particularly complex deal, get an attorney to review if you like, but don't assume you can't be a real estate investor without an attorney drafting every purchase contract.


 Maybe you haven't gotten in trouble yet because you've been able to perform on the contract with  little to no pushback, just lucky up until now. I am taking Champions real estate agent license course for Texas and explicitly states that only someone with a license to practice law can write contracts. It's a fact not an opinion. Go ahead and do whatever you want, but these are the rules I have learned in the state of Texas. I'm not talking about filling in the spaces in contracts, I'm talking about writing what is legal in a contract vs. what is not, which only someone licensed to practice law would know as a fact & have precedence over creating the structure of such contract. I am not talking about verbal offers either, I'm talking about the "Four corners rule" with ink to paper (or via the internet/Docusign) I'm not going to waste my time telling every little detail of the law of contracts here in the state of Texas & Federal law, you can get into class for a real estate license in your states you practice in and learn yourself.

Also you watch FREE VIDEOS that has nothing to say about actually paying to be in the fast track PROGRAM. which is basically no different than what is offered for free and that is just ridiculously manipulative. We don't know really what we are getting into until we really see how everything works, wait for the first zoom meeting etc... Then you find out it's not what you were looking for at all.

if you don't agree, go ahead and join. You'll know for yourself.

 Sorry I just read your first paragraph and felt compelled to respond immediately. I have a law degree and you, my friend, have been misled. ANYBODY CAN WRITE A CONTRACT. 
in fact, depending on the circumstances, word of mouth can be a binding contract. 

Quote from @Ian Walsh:

Most HMLs aren't a great fit for the refi portion.  HMLs are usually for the purchase and reno and then you would seek long term financing with a local bank/credit union.


 I kept reading the thread hoping someone would tell him the truth and not just look to get business. Funny I see that you're in Philadelphia. I have a F&F in Media, PA. DM me let's talk.

Quote from @Matthew Taylor:

I am looking for an easy, consistent way to collect rents.


 You (almost) can't go wrong with apartments.com. Don't count on their maintenance request notifications, though. Those arrive after 24 hrs for some reason. Don't know why their notifications are so slow within which time your tenants would have been forced for call or text you directly. Other than that, setting up payments, tracking revenue and expenses, and downloading reports for any specific tax year, seamless!

I do not, however, use them to source tenants. I have found that Zillow rental manager is the best for this. You do not need the premium because the free version will do just fine. After securing the tenant on Zillow, then I transfer them to apartment.com for management.

My experience with Avail has been totally awful. Costs money, zero leads/inquiries.

Good luck.

Post: Which towns in the Poconos, PA allow short term rentals?

Dami F.Posted
  • Investor
  • Aston, PA
  • Posts 38
  • Votes 15

wow! so much information on this thread. Shout out to @Mark Shay! Let's connect!